Travis County Commissioners Court
September 1, 2009,
Item 1
Number 1 is a public hearing to receive comments regarding resolution of the Travis County, Texas approving the extension of the maturity date and the weighted average maturity of the trinity higher educational facilities corporation variable rate demand revenue bonds (huston-tillotson university project) series 2008a
>> move that the public hearing be opened?
>> second.
>> all in favor?
that passes by unanimous vote.
>> good morning, I'm harvey Davis, manager of the Travis County housing finance corporation and I'm here with cliff blunt our attorney.
and the public hearing is -- is -- is to -- to give the public an opportunity to -- to get testimony on the plan of huston tillotson to -- to refinance the -- about $7 million in bonds that they have that were issued by a -- by an entity trinity higher education facilities corporation, to -- not related to Travis County.
the reason they are doing the reissuance is that they have an opportunity to lower the interest rate on the -- on the bonds, I think bonds were issued in 2008.
and the bonds will be -- have a letter of credit from the federal home loan bank, which -- which is the main reason that -- that the interest rate on the bonds will be -- will be significantly lower, 3 to 4% lower than they are now.
so -- so the -- because of this being a reissuance, it does have to -- it does have to be approved by -- by a -- by a governmental entity in the jurisdiction of huston tillotson, which is either the county government or the city government.
>> so our limited volume is --
>> your involvement is just to approve this -- this restrictturing for federal tax -- restructuring for tax purposes.
there's no liability of Travis County for the bonds.
it's -- it's just a restructuring, really going to be very beneficial to the university.
>> okay.
would anyone like to give testimony during this public hearing?
if so, please come forward.
>> move that the public hearing be closed.
>> second.
>> all in favor?
that passes by unanimous vote.
this will be action item no.
27 today.
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Last Modified:
Tuesday, September 1, 2009 3:14 PM
